Niraamaya Retreats to open luxury boutique resort in Kumarakom in 2016

MUMBAI: Private equity firm Jupiter Capital’s hospitality venture, Niraamaya Retreats, will open a boutique resort in Kumarakom in the second quarter of 2016. Niraamaya Retreats Backwaters & Beyond, the third property by the Niraamaya Group will be located on the banks of Lake Vembanad, in Kottayam district of Kerala. The property houses 28 villas and two houseboats offering wellness treatments and services.

"The Kerala backwaters features on the international tourist map and Kumarakom continues to develop its stature as one of the world’s leading destinations," Manu Rishi Guptha, chief executive officer of Niraamaya Business Group said in a press statement. " We look forward to completing an important Kerala circuit with our other two properties Niraamaya Surya Samudra – a Relais and Châteaux property and Niraamaya Cardamom Club located in Kovalam and Thekkady respectively."

Niraamaya Retreats is present in the niche space of wellness resorts. Jupiter Capital made its foray into the hospitality sector in 2009 by acquiring Surya Samudra, a boutique property in Kovalam in Kerala. After extensive renovations, the property was re-launched as Niraamaya Retreats Surya Samudra towards the end of 2010.

Jupiter Capital has invested around Rs 80 crore in the hotel venture's two operational properties in Kovalam and Thekkady in Kerala. The company also owns land parcels in Wayanad and Ashtamudi in Kerala for future development of resorts.